Blockchain Report — 6/28/2018
Summary: Coinbase CEO Launches Charity Cryptocurrency Fund; FBI Agent Says FBI Has 130 Cryptocurrency-Related Investigations; Russian Universities Will Store Diplomas On The Blockchain
Coinbase CEO Launches Charity Cryptocurrency Fund
According to The Next Web, CEO of Coinbase Brian Armstrong announced the GiveCrypto initiative in a blog post. GiveCrypto will include a charitable fund which aims to provide direct funding in cryptocurrencies to people in need. Armstrong states in his blog post:
Cryptocurrency is unique in that it can be used to send small amounts of money anywhere in the world, in real-time directly to an individual in need — they just need a mobile device with an internet connection. With distribution of aid to foreign countries, high fees and corruption are unfortunately common; cryptocurrency is a way of circumventing both.
So far, the fund has already raised $3.5 million, with a $1 million donation from Armstrong. Co-founder of Ripple Chris Larsen also donated more than a million dollars to the fund. Once the fund reaches $10 million, GiveCrypto will begin distributing the donations. The long-term mission of the charitable fund is to raise more than one billion dollars over the next two years.
FBI Agent Says FBI Has 130 Cryptocurrency-Related Investigations
According to Coindesk, the United States Federal Bureau of Investigation (FBI) is conducting 130 cryptocurrency-related investigations. FBI Supervisor Special Agent Kyle Armstrong said at a conference that the cryptocurrency-related crimes have to do with human trafficking, drug deals, kidnappings, and ransomware.
Armstrong mentioned that the FBI has seen an uptick in the number of cases involving cryptocurrencies in the past year, and that extortion schemes are increasingly using cryptocurrencies as a method to evade law enforcement.
Armstrong said that because of the blockchain’s immutability, it makes it significantly easier for the FBI to track transactions. However, the anonymity and privacy that cryptocurrencies provide makes it more difficult to identify who is actually involved in these transactions.
Russian Universities Will Store Diplomas On The Blockchain
According to Coin Telegraph, a Russian state university has announced that it will be recording diplomas using blockchain technology. The Financial University under the Government of the Russian Federation stated that “all diplomas issued over the past ten years” will be recorded with blockchain technology.
The goal is that by September 2018 potential employers will be able to verify the authenticity of digital diplomas on the university’s website. The Moscow university the first in Russia to provide digital diplomas using blockchain technology. In October 2017, the Massachusetts Institute of Technology (MIT) became the first university in the world to provide digital diplomas using the blockchain.
ICO Watchdog™ is the most popular chatbot assistant for ICO investors and cryptocurrency traders now available for FREE on Telegram, Messenger, Discord and Slack. Sign up today at http://icowatchdog.com.
Do you want daily blockchain and cryptocurrency news delivered directly to your inbox or feed? Sign up today for the Blockchain Report by ICO Watchdog™ at http://bit.ly/2KYOpxJ or follow us onTelegram,Twitter, Facebook and Instagram.
